Set up your family trust properly from the start.

The timeframe can vary depending on the Master of the High Court and whether all the required documents are submitted correctly. Once we understand your requirements, we prepare the Trust Deed and supporting documents and manage the registration process through to the issuing of the Letters of Authority.

The documents required will depend on the trust and its proposed trustees and beneficiaries. We’ll give you a clear checklist at the start and prepare the documents required for submission to the Master.

A trustee is responsible for managing the trust and its assets in accordance with the Trust Deed and the law. You can potentially be a trustee of your own family trust, but the right combination of trustees should be considered when the trust is established.

This depends on the Trust Deed and the way the trust is structured. We’ll advise you on the appropriate number and combination of trustees for your circumstances.

It can be extremely important. Registering a trust does not automatically create a tax advantage. How the trust is funded, what assets it holds and how income, capital gains and distributions are dealt with can all have tax consequences. Our service can include tax advice alongside the legal registration so that these implications are considered before important structural decisions are made.

Yes, in many family trusts a person may be both a trustee and a beneficiary. However, trustees must always act in accordance with the Trust Deed and their duties to the trust and its beneficiaries.

Letters of Authority are issued by the Master of the High Court and formally authorise the trustees to act on behalf of the trust. Trustees should not begin acting for the trust until they have been properly authorised.

Yes. A trust can acquire and own immovable property. If you're considering buying property in a trust or transferring property you already own into a trust, it’s important to consider the legal, financing and tax implications first.

Yes. Once the trust has been registered and the trustees have been authorised, a bank account can be opened in the name of the trust, subject to the bank's requirements.

Certain provisions of a Trust Deed may be amended, but the process and requirements depend on the trust and the amendment being made. It’s better to get the structure and Trust Deed right from the beginning.

You need a properly drafted Trust Deed and the required documents must be lodged with the Master of the High Court. Using an attorney also means the structure, trustee provisions, beneficiaries and legal consequences can be considered before the trust is registered, rather than simply completing the paperwork.

That depends on the structure and circumstances. Trusts have their own tax treatment, and there can also be tax consequences when assets are transferred to or from a trust. The purpose should therefore not simply be to create a "tax-saving trust". The legal, financial and tax implications should be considered together to determine whether the structure makes sense for your particular circumstances.

Yes. The way assets or funds are introduced into a trust can have significant legal and tax implications. Our team can advise on the proposed funding structure and its potential consequences before assets are transferred.

Potentially, but the implications should be considered before doing so. Moving existing assets into a trust can create tax and other consequences depending on the type of asset and how the transfer is structured. We can consider the legal, financial and tax position before you make the transfer.

There isn't one answer that applies to everyone. Buying property through a trust may make sense in certain circumstances, but the ownership structure, financing, tax implications and long-term purpose of the property all need to be considered. We can advise on the structure before you sign an agreement or transfer property into a trust.

An inter vivos trust is created during the founder's lifetime. A family trust established during your lifetime will commonly be an inter vivos trust and can be used to hold and manage assets for family beneficiaries.

A properly structured trust can play a role in managing how wealth and future asset growth sit outside an individual's personal estate, but establishing a trust does not automatically eliminate estate duty. The structure, funding arrangements and tax consequences need to be considered carefully. This is one of the areas where having legal, financial and tax expertise involved in the same process is particularly valuable.

Yes. A family trust can be structured to hold and manage assets for children and other beneficiaries, with the Trust Deed setting out how those assets may be administered and distributed.

Registration is only the beginning. Trustees need to administer the trust properly, keep appropriate records, comply with the Trust Deed and meet the trust's ongoing tax and regulatory obligations.

Yes. You don't necessarily need to already own all the assets you ultimately intend the trust to hold. In fact, where you're planning a future property purchase or investment, it can be useful to consider the trust structure before acquiring the asset.